By Manan Vyas
It was a sunny Sunday afternoon when I accompanied a friend to one of his archery sessions. Having nothing else to do, I watched keenly as he focused on the target. With the string drawn back, I watched him take deep breaths, all the while looking intently at the red spot on the target board. I saw him react slightly to a gush of wind that grazed his right ear, as he waited patiently to adjust his own direction for the wind, never once losing sight of the target. It was then that it hit me! An archer needs to blur out several distractions in the background and focus solely on the target in order to hit it on point. However, he also needs to carefully analyze certain necessary factors such as the intensity of light, wind speed or direction, and the humidity in the air, all the while still retaining his mental strength. Hence, it dawned on me that, this is what had been long missing from my investment routines.
Mirroring the qualities necessary to take the perfect shot, it is imperative that while investing you have a disciplined focus on the goal, simultaneously taking note of several factors such as income, inflation and growing needs of dependents. I realised that even when you would need to adjust your investment portfolio on the basis of the external environment, it is your goals that you should never lose sight of. It is this renewed realization that I use to craft my investment strategies and it is this understanding that seems to have been ingrained by Bajaj Allianz Life Insurance Company Ltd. in its new value-packed goal-based Unit Linked Insurance Plan (ULIP) called Bajaj Allianz Life Goal Assure.
Let’s know more, shall we?
Setting it apart from all the other products in the market, Bajaj Allianz Life Goal Assure comes with two unique benefits – the Return of Mortality Charges (ROMC) and the Return Enhancer. Mortality charge is basically the amount charged every year by the insurer to provide life insurance cover to the policy-holder. Now imagine a situation where you are being trained in say, archery, with guidance being provided at every step by professionals. However, at the end of the training period, the entire training charges are refunded back to you, thereby, leaving you with returns over and above what you had signed up for. Alluring, isn’t it?
This is exactly what the ROMC does, guaranteeing that a policyholder will get back the mortality charges, thus enhancing the value of their corpus on maturity. The Return Enhancer also functions in a similar fashion, ensuring that a customer who opts to receive the maturity benefit in installments over a period of five years will receive an addition of 0.5% of each due installment. Besides, it provides a Fund Booster, which is an amount added to the Fund Value on the date of maturity of the policy. You also get Loyalty Additions for paying the premium regularly and staying invested in the policy. However, it must be noted that this feature is only applicable for Annualized Premium of INR 5 lakh or more, and for policy terms of 10 years and above.
Maximized benefits for the “life maximizers”
Bajaj Allianz Life Goal Assure has been designed with special focus on the needs of the “life maximizers”, the new generation of investors in India. For a generation that always wants the best and spends a great deal of time and energy in making this a reality, Bajaj Allianz Life Goal Assure provides customers with various portfolio strategies, which are designed keeping in mind the different customers needs and risk tolerance.
Besides, for all those who believe in testing the waters before diving in, the plan allows you unlimited free switches, providing you with the sort of flexibility that is needed while trying out the variations that may best suit your goals. Further, since the product has been designed for the tech-savvy, Bajaj Allianz Life Goal Assure is available online. The company has revamped its website to make it more intuitive and offer you a simplified and convenient purchase experience. The website guides you through every step of your #LifeGoals planning and purchase, enabling you to make informed decisions using tools such as Risk Xplorer, Goal-based journey, and Returns Calculator.
Let us all be archers
Bajaj Allianz Life Goal Assure is one that pushes us all to be archers, to plan the right way, by experimenting, but never losing sight of the end goal. It supplements this encouragement with its own track record, owing to the fact that the ULIP Funds of Bajaj Allianz Life Insurance have consistently delivered one of the best CAGR returns, beating the benchmark indices over a longer horizon of three, five and ten years. With such assurances, why not all of us be archers then, and #InvestBefikar to achieve our #LifeGoals?
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Photo by Steven Lelham on Unsplash